BTC hovers above $61K amid US regulators against physical product Bitcoin ETF

[barbara44]

You aren't worried about how Bitcoin surpasses the $40k from $30k before? I think that's worth worrying too.

Anyway, whether the SEC approve it or not it's still doesn't matter though, they've gone for years and yet look where Bitcoin now? It's just the people anticipate too much about the possible approval of ETF yet this isn't the real reason why Bitcoin is pumping. It's more like an adoption is coming to continue to support Bitcoin in the process.

I think people now realized what is the advantage of bear market before the bull market. I wish they would since it's happening over and over again since the past bull run and bear market.

The difference is that if there are people who are buying right now because the ETF will be accepted and then when it is rejected or postponed then they are going to be acting like they are not involved with the most improved version of money already and get out. I mean ETF is not the reason why bitcoin is good and we are not going to have the bitcoin world being great just because of we will have ETF.

However, if you own bitcoin because you believed that ETF will happen and then it didn't happen then it makes sense that you would end up selling. I do not really understand why there is a good chance that we may see a drop. I hope that we won't, and I hope that people will ignore it, but I am not so sure.

[Dhaniii]

Amid renewed concerns over US regulators' acceptance of physical Bitcoin ETFs (exchange-traded funds) later this year, Bitcoin hovered above $61K on first approval in the United States.

What do you think about the new concerns that will occur in the future?

source : https://cointelegraph.com/news/btc-price-hovers-above-61k-amid-fresh-concerns-over-fate-of-physical-bitcoin-etf

A very good thread to talk about today is that US regulators have turn on two ETF applications after years of failed applications. This ETF will have CME Bitcoin futures as the underlying asset with an inflow of investors switching from Gold ETFs to BTC. this can affect the price of bitcoin going forward because the presence of a Bitcoin ETF can increase the demand for Bitcoin. The main reason behind the rising price of Bitcoin is that the ETF will attract many institutional investors into the cryptocurrency with the concept of no worries regarding the security or storage of the Bitcoin.

[Weng simok]

The First Bitcoin Futures ETF was trading in the US on Tuesday on the New York Stock Exchange. Trading the Bitcoin Futures ETF is in progress under its codename i.e. bito. Looking at the video released by CNBC yesterday the increase in the price of bitcoin will continue to be high and it is likely that bitcoin will reach $100k in the near future.

source : https://www.cnbcindonesia.com/market/20211019115520-19-284963/etf-bitcoin-futures-pertama-mulai-diperdagangkan-di-as

[Kemarit]

The First Bitcoin Futures ETF was trading in the US on Tuesday on the New York Stock Exchange. Trading the Bitcoin Futures ETF is in progress under its codename i.e. bito. Looking at the video released by CNBC yesterday the increase in the price of bitcoin will continue to be high and it is likely that bitcoin will reach $100k in the near future.

source : https://www.cnbcindonesia.com/market/20211019115520-19-284963/etf-bitcoin-futures-pertama-mulai-diperdagangkan-di-as

Yes, that's why the price is going to reach another all time high in the next 24 hours because of this very positive news. So hopefully, this is just the beginning of all those Bitcoin Futures ETF in the horizon. This is long overdue, but now we are raking the fruit of waiting for it for many years.

And it just so happen that we are in the road to $100,000, and this one could be catalyst this month and then Taproot in November. Then December all the FOMO will sets it to push the price to 6 digits.

[SquallLeonhart]

The First Bitcoin Futures ETF was trading in the US on Tuesday on the New York Stock Exchange. Trading the Bitcoin Futures ETF is in progress under its codename i.e. bito. Looking at the video released by CNBC yesterday the increase in the price of bitcoin will continue to be high and it is likely that bitcoin will reach $100k in the near future.

source : https://www.cnbcindonesia.com/market/20211019115520-19-284963/etf-bitcoin-futures-pertama-mulai-diperdagangkan-di-as

Yes, that's why the price is going to reach another all time high in the next 24 hours because of this very positive news. So hopefully, this is just the beginning of all those Bitcoin Futures ETF in the horizon. This is long overdue, but now we are raking the fruit of waiting for it for many years.

And it just so happen that we are in the road to $100,000, and this one could be catalyst this month and then Taproot in November. Then December all the FOMO will sets it to push the price to 6 digits.

With over a billion dollars in its first day, I am sure that nobody expected it to be THIS big. I mean sure we were all expecting it to have an impact on bitcoin and the price is now around ATH and doing great and we are happy about it, but that is literally just first day, if it made us earn so much on its first ever day, and also got 1+ billion dollar volume right away, then I am pretty sure it will have even greater return in the future as well. This is one of those things where we get a little bit more bull help, it is not going to be changing everything in a single day, but it is something that we could see as a positive for a long time since it is a bull logic.

[rahmatrf331]

the bull market has started to heat up again after a few days of struggling hard. the bull market broke through a fresh ATH of $67k last week and is now battling back after a minor correction and is now back at $63k. like the bull market is starting to struggle to break through the next new ATH price of $70k at the next crossroads. is that possible, let's monitor the latest bull market movement.

[Baofeng]

This is like 3 weeks ago, we already posted a new all time high already. But then again the price goes down after that and now we are still hovering $61k.

It's means the approval has push the price to a new all time high, but after 2 days it didn't sustained the volume, hence the correction. So not sure if this Bitcoin ETF will be the catalyst for a big expectation of $100k in December or it will just have a short term effect on the price.

[cryptomaniac_xxx]

This is like 3 weeks ago, we already posted a new all time high already. But then again the price goes down after that and now we are still hovering $61k.

It's means the approval has push the price to a new all time high, but after 2 days it didn't sustained the volume, hence the correction. So not sure if this Bitcoin ETF will be the catalyst for a big expectation of $100k in December or it will just have a short term effect on the price.

Seeing some movement now, not that big but it's a 2% movement so that is already a positive thing for the market.

It might be that this ETF has been long overdue, I mean it could have lead to big run still in 2018 when this is going to be approved that time. Now, investors are used to hearing this kind of news now. What everyone is waiting though is which institutional body are going to invest next and this could be the catalyst and not ETF instruments.

[Lucius]

What everyone is waiting though is which institutional body are going to invest next and this could be the catalyst and not ETF instruments.

It would be more correct to say "which big US company or some famous businessman will next invest in Bitcoin", because as things have been going on for some time, all eyes are on only one country and their companies. Of course, this is understandable due to the amount of money circulating in the US markets, and the fact that the US is in political and military terms an unavoidable factor anywhere in the world. That is why the BTC ETF was not as important anywhere else in the world as in the US, but so far not the one that is approved (futures-based).

Seeing some movement now, not that big but it's a 2% movement so that is already a positive thing for the market.

2% is not worth mentioning, at least not for you, me, and 99% of those who invest in Bitcoin. The fact is that we have been successfully keeping the price above $60k for some time (with one short drop below that level), which is in a way a good indicator that there are fewer and fewer weak hands or those who believe the bull run is over. The real test, however, will be in December, when it will finally be seen whether those who advocate a 4-year cycle are right or not.

[savetheFORUM]

Amid renewed concerns over US regulators' acceptance of physical Bitcoin ETFs (exchange-traded funds) later this year, Bitcoin hovered above $61K on first approval in the United States.

What do you think about the new concerns that will occur in the future?

For more than 20 days that we are trading around $62k levels which may be good or may not. It seems market is looking for some positive external trigger so that it may continue its bullish trend. Bitcoin ETF approval was expected to be having big impact into bitcoin market but as of now we are not seeing any significant impact for some reasons.

Does it mean that people already got enough methods/opportunities to trade/buy bitcoin which means they do not need bitcoin ETF for the purpose of trading/buying?

[Lucius]

Does it mean that people already got enough methods/opportunities to trade/buy bitcoin which means they do not need bitcoin ETF for the purpose of trading/buying?

Futures-based ETFs seem to be a rather unfavorable way to trade BTC, at least if the calculations in this thread are to be believed. It’s not that people aren’t interested in a BTC ETF, but they want one that is physically-backed, and which should also have much less fees and risks.